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question preparing purchases system l63 discounts m6 6 journal entries for purchase 4277450


Preparing Purchases , , System[L63 Discounts M6.6 Journal Entries for Purchase and Purchase Returns Using a Perpetual Assume Anderson's General Store bought, on credit, a truckload of morchandise from American Wholesaling costing $23,000. If the company was charged $650 in transportation cost by National Trucking immediately returned goods to American Wholesaling costing $1,200, and then look advantage of American Wholesaling's 2/0, n/30 purchase discount Prepare journal entries to record the inventory transactions, assuming Anderson's uses a perpetual inventory systom. Of no entry ls required for a transactionleyent, seloot o Journal Entry Required in the fist account Rald) iew transaction list Journal entry worksheet Record the inventory purchased of $23,000 on accou ran 23,.000 Accounts Payable 23,000

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